WORLD Brazil's economy contracted 4.1% in 2020

WORLD

Brazil's economy contracted 4.1% in 2020

AFP

20:51, March 03, 2021

Brazil's economy shrank 4.1 percent in 2020, officials said Wednesday, closing out what analysts called another "lost decade" for Latin America's biggest economy with a year badly disrupted by the coronavirus pandemic.

File photo: Agencies

Gross domestic product (GDP) continued its modest rebound in the fourth quarter, with growth of 3.2 percent, said the national statistics institute, IBGE.

That was not enough to erase what it called "the adverse effects of the Covid-19 pandemic," but it did mean Brazil fared slightly better than some other major economies.

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